At a session with analysts last Monday, RComm chairman Anil Ambani said the Rs 10,000 crore (Rs 100 billion) investments would be used for network expansion.
Following Reliance Communications' move to break the sub-Rs 1,000 price barrier in the black and white CDMA sets, mobile phone manufacturers are working hard to break the sub-Rs 2,000 barrier for GSM colour mobile phones.
The telecom services provider had a net profit of Rs 1,395.14 crore (Rs 13.95 billion) in the third quarter of FY'08, RCom said in a filing to the Bombay Stock Exchange. RCom's total income rose by 18.75 per cent to Rs 5,671.82 crore (Rs 56.71 billion) for the quarter under review from Rs 4,776.26 crore (rs 47.76 billion) in the corresponding period last fiscal.
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
Anil Ambani-controlled Reliance Communication Ventures Ltd has become an over Rs 90,000 crore (Rs 900 billion) company going by the conversion price of its just concluded Foreign Currency Convertible Bonds.
Anil Dhirubhai Ambani Group's market capitalisation increased to Rs 86,000 crore (Rs 860 billion) following the listing of the group company -- Reliance Communication Ventures Ltd (RCoVL).
The company had posted net profit of Rs 156 crore a year ago.
Critics say the programme, launched 10 months ago in India in collaboration with operator Reliance Communications, violates principles of net neutrality
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
Ambani said Jio will offer the world's lowest data tariff
The Sensex opened with a positive gap of 61 points at 16,782. It finally ended with a gain of 405 points at 17,126. Bharti Airtel zoomed 9.6% to Rs 925 and RCom soared 8.3% to Rs 577. ICICI Bank surged 4.5%, HDFC and SBI rallied 4% each, Satyam, NTPC and Larsen & Toubro were up over 1% each and ITC, ONGC, R-Energy, Wipro, Tata Steel, BHEL and M&M were other gainers. ACC dropped nearly 2% to Rs 783 while Maruti and DLF were down around 1%.
The website will now be repositioned as an e-commerce portal such as eBay.
Spectrum auction ends, brings Rs 1.09 tln to govt kitty.
Reliance Communication Ventures on Monday got listed at the Bombay Stock Exchange opening strongly at Rs 290 a share.
RCom may get around Rs 4,500 crore by trading its radiowaves to Reliance Jio.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
Thursday's ruling does not affect any decision on Russian and Belarusian athletes' participation at the Paris 2024 Olympics which the IOC will take at a later date.
Telcos may hike mobile rates to recover spectrum cost: Moody's
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
China Development Bank takes Reliance Communications to NCLT over loan default
The total outstanding dues against Bharti Airtel is Rs 11,235.50 crore.
The fall in metal and mining stocks comes on the back of weak Chinese trade data
Telecom service providers (TSPs) have begun to monitor and prevent spam calls since May 1, with the help of an artificial intelligence and machine language-based system acting on the Telecom Regulatory Authority of India's (Trai) latest directive on the matter, its officials told Business Standard. Touted as the first big technological measure against the growing menace of unsolicited commercial communications, all TSPs have confirmed to Trai that they have rolled out the AI/ML tool. The filter system works on the distributed ledger technology (DLT) platform used by TSPs, and is set to go for incremental updates, rules for which will soon be released, they added.
Modi said New Delhi has emphasised on dialogue and diplomacy along with restraint to deal with the situation arising out of the Hamas-Israel conflict.
Successful bidders will have to pay 25 per cent of the amount upfront for sub 1 GHz, and 50 per cent upfront for higher frequency bands.
The Indian Navy on Monday unveiled a 15-year plan to boost maritime infrastructure even as Chief of Naval Staff Admiral R Hari Kumar said the force is working with the Army and the IAF to ensure tri-services jointness and integration to meet future challenges.
Resignations of Anil Ambani and four other directors were conveyed to the CoC of RCom in its meeting on November 20 and were unanimously rejected.
With Chinese companies Huawei and ZTE excluded from participating in the 5G roll out, their absence leaves a vacuum in the market which will have to be filled by three vendors: Ericsson, Nokia and Samsung.
MindSquare Technologies is a group company of 1neoteric Technology.
Typically these are high-beta stocks and earnings are volatile
After Chandrayaan-3 touched down on the Moon, the Congress on Wednesday said it is a collective success of every Indian and ISRO's achievement reflects a saga of continuity and is truly fantastic.
Under the UASL norms, spectrum is linked to licences, and a particular band of radio wave is restricted to be used in a particular technology
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.
Reports by CAG earlier on the 2008 telecom licence scam had resulted in the cancellation of 122 licences.
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